Alphabet (NASDAQ:GOOGL) Given New $190.00 Price Target at Mizuho

Alphabet (NASDAQ:GOOGL) had its price target lifted by Mizuho from $170.00 to $190.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Mizuho’s price target suggests a potential upside of 21.79% from the company’s previous close.

Several other equities research analysts have also commented on GOOGL. BMO Capital Markets reissued an “outperform” rating and set a $185.00 price target (up previously from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Jefferies Financial Group boosted their price target on Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Wells Fargo & Company decreased their price target on Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. Susquehanna lifted their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Wolfe Research lifted their price objective on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.41.

Alphabet Price Performance

Shares of GOOGL opened at $156.00 on Friday. Alphabet has a twelve month low of $102.63 and a twelve month high of $160.22. The stock’s 50 day moving average is $147.22 and its two-hundred day moving average is $141.16. The firm has a market capitalization of $1.94 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.47 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the previous year, the company earned $1.05 EPS. Research analysts anticipate that Alphabet will post 6.78 earnings per share for the current year.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,377,482 over the last quarter. 0.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphabet

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares during the last quarter. FMR LLC lifted its position in Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after acquiring an additional 12,070,681 shares during the last quarter. Norges Bank acquired a new position in Alphabet during the 4th quarter worth $15,441,917,000. Northern Trust Corp lifted its position in Alphabet by 3.7% during the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock worth $8,857,154,000 after acquiring an additional 2,416,328 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Alphabet by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after purchasing an additional 1,472,043 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.